Nationwide blackout looms as GenCos threaten shutdown over N2trn debt

The Power Generation Companies , have appealed to the Federal Government to settle electricity debts owned them for electricity generation to enable them remain in business.

”And consumed on the national grid, which is currently threatening the continued operation of their power generation plants. ”In the light of the severity of the issues highlighted above, the GenCos are requesting that immediate and expedited action is taken to prevent national security challenges. ”This is an aberration as it is a clear departure from existing terms of the Power Purchase Agreement ”Which NBET as buyer has contracted to purchase the available capacity as agreed under the PPA?

According to him, the importance of a specialised window or stable dollar allocation for GenCos cannot be overemphasised. The Minister of State for Youth Development, Mr Ayodele Olawande, says that the student loan scheme is for youths to access interest-free facility for their educational pursuits in tertiary institutions.

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